Saudi Arabia: Inflation in February inches down following January's surge
March 21, 2016
In February, consumer prices declined 0.07% over the previous month, which largely contrasted the 1.93% increase tallied in January. January’s five-year-high increase reflected subsidy cuts in energy and some utilities prices, which were implemented early in the year. By categories, February’s decrease mainly reflected lower prices for communication, food and beverages as well as for furnishing and households.
Inflation came in at 4.2% in February, which was a notch below January’s 4.3%. Annual average inflation in February rose from January’s 2.4% to 2.5%, the highest rate in a year.